Economic activity weakened across the country since mid-October, as the credit crisis had an impact on the broader economy, according to the Federal Reserve's Beige Book.
The U.S. economy shed 250,000 private-sector jobs in November in the latest sign that the recession is pummeling the job market, according to the monthly ADP National Employment Report released today.
AIG is in need of a federal government guaranty to meet counterparty collateral requirements, its former CEO Maurice Greenberg, said today.
Sales on Black Friday — the day after Thanksgiving, thought to be the busiest shopping day of the year — fared better than anticipated but did not rescue November retail sales, according to a report from Thomson Reuters of New York..
Genstar Capital LLC, a San Francisco-based private-equity firm, yesterday agreed to buy Long Term Care Group Inc., an outsourced services administrator.
Common-wisdom definitions of what constitutes a recession notwithstanding, the National Bureau of Economic Research Inc. today confirmed what most Americans have been feeling for many months: The United States economy has been in a recession for a year.
Fixed annuity sales in the United States hit $27.1 billion in the third quarter, up by 54% from the third quarter of 2007, according to data from Beacon Research of Evanston, Ill.
While variable annuity performance has plunged this fall, the hedging programs designed to protect the products have helped carriers save $40 billion during September and October, according to a study from Milliman Inc.
The manufacturing sector headed downward in November as the economy continued to weaken under the weight of the financial crisis, according to a report by the Institute for Supply Management in Tempe, Ariz.
Top 50 fee-only RIAs - InvestmentNews research.
The CEO of Silvercrest Asset Management talks about the firm and offers advice to young advisers.
Two recent surveys lend credence to suggestions that the Wall Street meltdown may drive more financial advisers to independent firms from wirehouses.
Many plan sponsors aren't focused on the investment strategies behind target date funds, creating an opportunity for financial advisers to play a greater role in the retirement-planning process, according to a survey by JPMorgan Asset Management Inc. of New York.
Charles G. Goldman's appointment last week to run the RIA custody and correspondent clearing businesses of Fidelity Investments presents a challenge to The Charles Schwab Corp., his former employer, and highlights contrasting strategies as the discount brokerage giants battle for assets from registered investment advisers, wealth managers and corporate retirement plan sponsors.
When a client recently told her adviser that she would be losing her public relations job in six months, Morris Armstrong gave her advice that he never thought he would dispense: He told the single mother, who had been contributing significantly to her 401(k) plan, to stop.
To attract disaffected wirehouse reps, more independent financial firms are signing on to the industry's recruitment protocol.
The incoming administration should consider the regulatory reforms for the financial markets that it will propose to Congress and the regulatory agencies when it takes office in January.
With the global financial markets extending their record-level volatility and generally downward spirals, at least one industry is making a case for space exploration investing.
